Document Type
Article
Media Type
Text
Abstract
While technologies evolve, international laws with ancient roots must be updated, in order to better suit the needs of a modern world. One new technology, which has sent shockwaves into international and domestic law, is blockchain and its applicability to many facets of domestic and international business. This Comment analyzes how the letters of credit and international sales transactions would be impacted if the Uniform Customs and Practices published by the International Chamber of Commerce were to adopt blockchain technology. More specifically, the Comment analyzes how smart contracts would instill the same amount of trust on both sides of a transaction as would a letter of credit.
First Page
486
Last Page
512
Publication Date
7-1-2019
Department
College of Law
ISSN
0734-1490
Language
eng
Publisher
Northern Illinois University Law Review
Recommended Citation
Benson, Gregory Jr.
(2019)
"Implications of Adopting Blockchain Technology on International Sales Transactions,"
Northern Illinois University Law Review: Vol. 39:
Iss.
3, Article 2.
Suggested Citation
Gregory Benson, Jr., Comment, Implications of Adopting Blockchain Technology on International Sales Transactions, 39 N. Ill. U. L. Rev. 486 (2019).
